The Romanian Financial Supervision Authority (ASF) has stopped pensions funds from trading shares for two days after EUR 200,000 worth of shares were stolen on the Romanian capital market.

Via this move, ASF wants to check whether the pensions funds, which are the largest investors on the Romanian capital market, are safe from theft.

Shares worth some EUR 200,000 disappeared from the account of Ana Maria Mihaiescu, the chief of the World Bank's investment office IFC in Romania.

Pensions funds were unable to trade on Friday, September 20, as well as on Monday, September 23.

The pension funds' shares are in the custody of banks, while Ana Maria Mihaiescu's shares were in the custody of a brokerage firm, which is yet to be named.

A group of eight people stole SIF investment fund shares belonging to the IFC official by using a fake document and a person who looked like Ana Maria Mihaiescu.

Some of the thieves are already being tried in Sibiu with three of the accused in custody.

editor@romania-insider.com